iRobot (NASDAQ:IRBT) Releases Q3 Earnings Guidance

iRobot (NASDAQ:IRBT) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($0.11)-($0.01) for the period, compared to the consensus estimate of ($0.28). The company issued revenue guidance of $217-$223 million, compared to the consensus revenue estimate of $207.25 million. iRobot also updated its FY 2024 guidance to -3.770–3.310 EPS.

iRobot Stock Down 4.4 %

Shares of NASDAQ:IRBT traded down $0.36 during midday trading on Friday, hitting $7.77. The stock had a trading volume of 430,777 shares, compared to its average volume of 2,147,427. The company has a quick ratio of 1.15, a current ratio of 1.79 and a debt-to-equity ratio of 0.83. The business’s 50-day simple moving average is $9.82 and its 200-day simple moving average is $10.32. iRobot has a 12 month low of $6.48 and a 12 month high of $42.14. The company has a market cap of $223.44 million, a P/E ratio of -1.05 and a beta of 0.89.

iRobot (NASDAQ:IRBT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported ($1.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.77) by ($0.19). The firm had revenue of $166.40 million for the quarter, compared to the consensus estimate of $168.73 million. iRobot had a negative return on equity of 99.56% and a negative net margin of 24.42%. The company’s revenue was down 29.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.73) EPS. On average, sell-side analysts forecast that iRobot will post -4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com lowered iRobot from a hold rating to a sell rating in a research note on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of iRobot in a research note on Thursday.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.